Published on: Thursday, April 22, 2021
By: Bernama
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Kuala Lumpur: Tasco Bhd’s 70 per cent-owned unit, Tasco Yusen Gold Cold Sdn Bhd (TYGC), together with Swift Integrated Logistics Sdn Bhd (SILSB), have proposed to jointly acquire 100 per cent stake in Hypercold Logistics Sdn Bhd for RM21.10 million.
In a filing with Bursa Malaysia, Tasco said both TYGC and SILSB had entered into a conditional share sale agreement with Hypercold today for the proposed acquisition.
Under the agreement, the logistics solutions provider said TYGC and SILSB would each acquire 50 per cent stake in Hypercold for RM10.55 million respectively.
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On the rationale for the acquisition, Tasco said the company, through TYGC, had established itself as a prominent cold chain logistics provider in Peninsular Malaysia, however, it has no cold chain logistics presence in Sabah or Sarawak.